Pinnacle West Capital Corporation $PNW Position Increased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in Pinnacle West Capital by 49.9% in the fourth quarter, ending with 645,487 shares valued at about $57.3 million.
• Pinnacle West reported stronger-than-expected quarterly results, with EPS of $0.27 versus an expected loss and revenue of $1.15 billion, up 11.4% year over year.
• The company announced a quarterly dividend of $0.91 per share, implying an annualized payout of $3.64 and a 3.3% yield.

Hsbc Holdings PLC boosted its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 49.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 645,487 shares of the utilities provider's stock after purchasing an additional 214,907 shares during the quarter. Hsbc Holdings PLC owned approximately 0.53% of Pinnacle West Capital worth $57,309,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PNW. CYBER HORNET ETFs LLC bought a new position in Pinnacle West Capital in the 2nd quarter worth about $27,000. MUFG Securities EMEA plc bought a new stake in shares of Pinnacle West Capital during the second quarter valued at approximately $32,000. Clearstead Advisors LLC boosted its position in shares of Pinnacle West Capital by 88.5% during the fourth quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider's stock worth $35,000 after buying an additional 185 shares during the period. Dorato Capital Management acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth approximately $69,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Pinnacle West Capital by 102.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider's stock worth $87,000 after buying an additional 488 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW opened at $109.27 on Monday. Pinnacle West Capital Corporation has a 1 year low of $85.32 and a 1 year high of $109.52. The firm has a market cap of $13.24 billion, a P/E ratio of 20.35, a PEG ratio of 4.00 and a beta of 0.43. The stock has a fifty day moving average price of $102.50 and a two-hundred day moving average price of $98.55. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.30. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts forecast that Pinnacle West Capital Corporation will post 4.71 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital's dividend payout ratio is presently 67.78%.

Analyst Ratings Changes

PNW has been the topic of several recent analyst reports. Morgan Stanley set a $95.00 target price on Pinnacle West Capital in a research note on Wednesday, June 24th. Barclays raised their price target on Pinnacle West Capital from $102.00 to $108.00 and gave the company an "equal weight" rating in a report on Wednesday, July 1st. Wells Fargo & Company set a $106.00 price objective on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Weiss Ratings raised shares of Pinnacle West Capital from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Finally, Argus increased their target price on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the company a "buy" rating in a research report on Tuesday, April 14th. Three equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $103.14.

Insiders Place Their Bets

In other news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total value of $650,133.00. Following the transaction, the executive vice president owned 6,634 shares of the company's stock, valued at $656,766. The trade was a 49.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.19% of the company's stock.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company's regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company's diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.

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